AS (Latvian joint-stock company)

An AS (akciju sabiedrība) is a Latvian joint-stock company: an open capital company whose shares are stocks that may be publicly traded. Its minimum share capital is EUR 25,000, and it is governed by the meeting of shareholders, the supervisory board and the management board.

A stock is a security that certifies a shareholder's stake in the share capital and gives the right to take part in management, receive dividends and, on liquidation, a liquidation quota. Unlike an SIA, an AS must have a supervisory board of three to twenty members that oversees the management board.

In an AS the supervisory board elects the management board, for five years unless the articles set a shorter term. Until the registration application is filed, the share capital of an AS may be paid only in money.

Because AS stock can be publicly traded, the form lets a company raise capital from a wide circle of investors. The shares of an SIA cannot be traded publicly.